With the current state of real estate in the Motherlode, there is only one title company left in Tuolumne County.
Friday’s KVML “Newsmaker of the Day” was the President of Yosemite Title Company, Jeff Kerns.
Yosemite Title Company originally opened their doors in 1966 and was the fifth title company doing business then. Today, Yosemite Title Company is the last one standing.
As recently as 2006, there were ninety jobs in the title and escrow business. That number has been reduced to just fifteen today.
Kerns says that being locally owned and operated worked in his companys’ favor.
Although there are more foreclosures this year than in 2008, that trend seems to have peaked in August and September and has now begun to subside.
Kerns believes that once foreclosures go away, home prices will begin to rise again, but as of now has no idea how soon or how long that will take.
According to Kerns, now is actually a great time to buy a house as the median home price is down to levels last seen in 2003.
The “Newsmaker of the Day” is heard every weekday on AM 1450 KVML at 6:46, 7:46 and 8:46am
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